Australian venture funding, tracked

NEA Shifts Its Strategy for $7bn Fundraise

NEA is reportedly raising close to $7bn split between an early-stage fund and a growth fund, abandoning its longtime single multistage fund approach, according to the piece.

Axion's Mission & Series B: Harnessing AI to Help American Manufacturers Bring Products to Market that Customers Love

Axion founder Daniel First announces a $37 million Series B with Salesforce Ventures leading, lifting total raised to $64 million, and describes the company's AI platform for resolving product quality issues in manufacturing.

Also axion.com

Hayfin Capital Management raises $6.6bn for latest fund

Hayfin's fourth direct lending vehicle has gathered more than its $6.6 billion target from backers including a San Antonio pension fund, with total capital expected near its €7 billion cap by year end.

ABN AMRO partners with Think Better Group in $27.5m investment for Greener Global Brands

ABN AMRO's Sustainable Impact Fund has committed US$27.5 million to Think Better Group, an Online Brands Group portfolio company, to fuel growth and further ESG brand acquisitions.

Think Better Group Acquires World Leading Re-Useable Nappy Brand Econaps

Sustainable-brands platform Think Better Group has acquired reusable nappy company Econaps, started in Byron Bay in 2013 by Kyla Geen. Econaps joins TBG's portfolio alongside Ecoriginals, which TBG earlier backed.

Explorate complete another successful capital raise

Brisbane logistics software startup Explorate, started in 2016 by Conor Hagan and Alex Ewart, has raised $7.5 million as it aims to grow into a major freight technology player like WiseTech.

Also Skalata Ventures·Startup Daily

SurfStitch rides wave of global success with ASX listing

SurfStitch listed on the ASX after buying Billabong's stake and Swell.com for about $35m and Quiksilver's Surfdome for $45m; its IPO and pre-IPO raising drew several prominent fund managers.

Dog by Dr. Lisa Launches DOG+ for 24/7 Vet Telehealth & Exclusive Membership Benefits

Online Brands Group highlights that its portfolio company Dog by Dr. Lisa has introduced a subscription giving dog owners round-the-clock remote vet consultations plus member perks.

Amcor and Mondelēz International Invest in Licella to Boost Australian Plastics Facility

Two multinationals, Amcor and Mondelēz, have committed money to Licella to advance its planned Melbourne plastics recycling plant, while publisher Online Brands Group notes its existing stake in the recycling technology firm.

The Memo Featured in AFR Following Successful $20 Million Capital Raise

Online Brands Group's post celebrates The Memo, a parenting retailer, which has banked A$20m from Pier 12 Capital and gained Australian Financial Review coverage, with expansion planned for new stores.

Also SmartCompany·Women's Agenda·Startup Daily

Surfstitch is now worth more than Billabong International

SurfStitch raised $50 million to fund its $23.7 million purchase of Surf Hardware International, pushing its market value past Billabong's. The Sydney-born retailer listed the prior December at $214 million.

Also Online Brands Group portfolio

Business & Pleasure Co. Secures Strategic Investment to Accelerate Growth

Outdoor leisure brand Business & Pleasure Co. has landed US$16m from Silas Capital to fuel growth, with early backer Online Brands Group continuing alongside founders Ollie Edwards and Lachlan Leckie.

New Funds Raised: Square Peg Fund 4 and Opportunities Fund 2

Square Peg has closed two new funds, Fund 4 and Opportunities Fund 2, with Hostplus, AustralianSuper and Roc Partners backing again; investments already made include Kula and Supabase.

They said it couldn’t be done.

Skalata Ventures has rebranded as Tall Order, an early-stage backer of AI founders, and says fundraising for its third fund is underway.

They said it couldn’t be done.

Skalata Ventures unveils a rebrand to Tall Order and pitches its first-cheque AI investing focus, saying Fund III is being raised; no committed amount or portfolio news appears.

Paypa Plane welcomes Mastercard, QIC and Spirit Ventures to the Shareholder list

Payment firm Paypa Plane says Mastercard, Cuscal, Sprint Ventures and Queensland's Business Investment Fund joined its $10 million Series A, with QIC managing the investment and Commonwealth Bank and Tyro already backing it.

Also Business News Australia·Startup Daily·Australian FinTech·SmartCompany·Startup Daily·Women's Agenda

MyGig Press & Media - News, Facts, Boilerplate

MyGig's press page records its A$1 million pre-seed funding round with Artesian, Hostplus, Co Ventures and Aussie Angels, alongside company facts, its founder, and media contacts.

Open Source VC

Airtree's resource hub listing founder guides; its index announces Fund V, a $650 million vehicle with a $250 million seed fund and a $400 million growth fund.

Driverless cars

AFR's driverless-car topic hub: NRF puts $30m into Melbourne maker Applied EV, alongside Waymo's Sydney robotaxi plans, Uber's robotaxi spend, union demands and a progressing Mycar sale.

CGT changes deepen the 'valley of death' for start ups

Opinion piece by Prime100's co-founder arguing planned CGT changes penalise local angel investors and could deter the private growth capital that scaled her pet food business.

V2 AI expands into WA as enterprise AI demand accelerates

AI consultancy V2 AI opens in Western Australia with three senior hires - Richard Allen, Derek Bingham and Holly Dean - while its chief executive flags AI governance as the key challenge for enterprise deployments.

Relevance AI Raises A$37m to Build the AI Workforce of The Future

Galileo Ventures reflects on backing Relevance AI from its VectorAI origins, recalling its seed and Series A rounds and celebrating the company's newly announced Series B.

Also Archangel Ventures portfolio·Galileo Ventures portfolio·Startup Daily·SmartCompany·Techboard·Startup Daily·SmartCompany·Startup Daily·SmartCompany·SmartCompany·Startup Daily·Startup Daily·SmartCompany·Startup Daily

Early Stage Fund 3

Investible's pitch page for its third early-stage fund courts prospective investors and outlines plans to back dozens of tech companies across stages.

Healthcare & Fitness

AFR healthcare and fitness section roundup: Early Bird raised $2 million led by Hyper Ventures; Resmed sold MatrixCare; Radiopharm seeks $16 million; plus Mayne Pharma, Healthscope, Sigma and policy stories.

Also SmartCompany

Media & Marketing

AFR's Media & Marketing section roundup: Joe Aston's Rampart has raised $2.3m from five backers and TEG has locked in roughly $100m of fresh bank debt, alongside media policy, court and personality stories.

Also Startup Daily·AFR Technology·Dealroom·SmartCompany·Mumbrella·This Week in Australian Startups·The Age Business·SMH Business·Mumbrella

Canva splashes $30m on Melbourne advertising start-up

Design software company Canva has acquired Melbourne adtech firm Doohly for $30 million, a deal that hands windfalls to the startup's founders and shareholders Skalata Ventures and Archangel Ventures.

Also Blackbird Ventures portfolio·Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily·SmartCompany·SmartCompany·Startup Daily·SmartCompany·SmartCompany·Startup Daily·SmartCompany·Startup Daily·Startup Daily·Startup Daily·Startup Daily·Startup Daily·Startup Daily·Startup Daily·SmartCompany·SmartCompany·Startup Daily·Startup Daily·SmartCompany·Startup Daily·Startup Daily·Startup Daily·Forbes Australia·quadrantpe.com.au·Tech Funding News - Australia·Forbes Australia·Crikey·Forbes Australia·Forbes Australia·Forbes Australia·Women's Agenda·This Week in Australian Startups·techtimes.com·TechCrunch Venture·TechCrunch Venture·TechCrunch Venture

Going from strength to strength with SBN

Skalata's profile of portfolio company Strength by Numbers, whose AxIT hardware measures strength for health professionals, covering the four founders' backgrounds and the two investments Skalata made in 2021 and 2022.

Open Source VC

AirTree's blog index page listing guides and essays on AI, culture, and company building, including the firm's announcement of a 650 million dollar fifth fund split between seed and growth vehicles.

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